Audit reforms: IoD call for caution in plans to break Big Four dominance July 8, 2021 The government should approach its plans for an audit and corporate governance reform with greater caution, said the Institute of Directors (IoD). A government white paper aimed at breaking up the concentration of the Big Four auditing firms – Deloitte, PwC, KPMG and EY has stirred criticism from the business group, who said that the [...]
KPMG told to expect £250m claim for Carillion collapse June 23, 2021 Accounting giant KPMG is expected to be told to pay £250m for its role in the collapse of outsourcing firm Carillion, its former client, in 2018. On behalf of the Insolvency Service, lawyers have warned KPMG to expect a claim. The expected move is part of an effort to reclaim funds that will be used [...]
Accounting watchdog pushes for KPMG to be fined £15m over Silentnight sale June 21, 2021 Accounting watchdog pushes for KPMG to be fined £15m over Silentnight sale
Big Four lobbying may dilute Government’s audit reform, says ex-accounting watchdog June 14, 2021 Big Four lobbying will dilute Government's audit reform, says ex-accounting watchdog
City Moves: Who’s switching jobs in the Square Mile this week? June 2, 2021 City A.M.‘s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Brown Advisory expands London office with senior hires Investment management firm Brown Advisory has bolstered its London office this week with two senior hires as its collection of assets hits $15bn. [...]
As accounting firms prep for busy period, non-Big Four players spot new opportunities May 26, 2021 The majority of 2020 was a slow year for the UK’s deals market, with mergers and acquisitions depressed by the Coronavirus pandemic and its subsequent lockdown restrictions. This trend, however, now seems to be in reverse with a number a big deal in the private sector, including Virgin Media and O2’s £31bn mega merger, and [...]
Has lockdown triggered a City brain-drain? May 20, 2021 The explosion in home-working due to lockdown is shifting the focus away from a London-centric view of careers, with regional firms benefiting from a growing desire to shun the commute. Lockdown is prompting a shift away from City jobs to opportunities at smaller, regional practices with talent-hungry boutique firms stretching to match Square Mile-level salary [...]
Week in Sportbiz: Ed Sheeran sponsors Ipswich Town; Javier Tebas blasts Gianni Infantino; Tokyo 2020 set for first transgender Olympian May 6, 2021 It has been a whirlwind few weeks at Ipswich Town. Fresh from welcoming new owners, the League One club now has an unlikely new shirt sponsor: Ed Sheeran. The Suffolk songsmith, a long-standing fan of the Tractor Boys, has agreed to sponsor the men’s and women’s team on a one-year deal that starts next season. [...]
KPMG staff to leave early in the summer as firm embraces hybrid working May 5, 2021 Staff at KPMG will be able to leave early one day a week during the summertime, as the Big Four firm moves to hybrid working post-pandemic. The Big Four firm has finalised its plans for flexible working in a post-pandemic world. KPMG staff will spend on average just two days a week in the office [...]
Three-quarters of new FRC panel members being ex-Big Four causes interest concerns May 5, 2021 The majority of individuals recently recruited to the FRC’s advisory panel have at some point worked for a Big Four firm, raising concerns about their objectivity when it comes to making recommendations that are in the public interest. The Financial Reporting Council (FRC) recently announced 19 new appointments to its advisory panel, a body established [...]